Federal Realty Investment Trust (NYSE:FRT) announced a quarterly dividend on Wednesday, August 1st, Zacks reports. Stockholders of record on Friday, September 21st will be paid a dividend of 1.02 per share by the real estate investment trust on Monday, October 15th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Thursday, September 20th. This is a boost from Federal Realty Investment Trust’s previous quarterly dividend of $1.00.
Federal Realty Investment Trust has increased its dividend payment by an average of 7.1% annually over the last three years and has raised its dividend every year for the last 50 years. Federal Realty Investment Trust has a payout ratio of 65.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Federal Realty Investment Trust to earn $6.46 per share next year, which means the company should continue to be able to cover its $4.08 annual dividend with an expected future payout ratio of 63.2%.
FRT stock traded down $1.81 during trading on Friday, reaching $129.61. 345,624 shares of the company were exchanged, compared to its average volume of 334,203. The stock has a market cap of $9.62 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 3.52 and a beta of 0.18. Federal Realty Investment Trust has a twelve month low of $106.41 and a twelve month high of $134.52. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.32 and a quick ratio of 1.32.
A number of equities analysts recently issued reports on the stock. Deutsche Bank upped their price objective on shares of Federal Realty Investment Trust from $133.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, August 28th. Citigroup upped their price objective on shares of Federal Realty Investment Trust from $142.00 to $144.00 and gave the stock a “buy” rating in a research report on Monday, August 20th. ValuEngine upgraded shares of Federal Realty Investment Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 18th. Jefferies Financial Group reiterated a “hold” rating and set a $128.00 price objective on shares of Federal Realty Investment Trust in a research report on Wednesday, August 15th. Finally, Bank of America upped their price objective on shares of Federal Realty Investment Trust from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Monday, August 13th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $137.54.
About Federal Realty Investment Trust
Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail based properties located primarily in major coastal markets from Washington, DC to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty's mission is to deliver long term, sustainable growth through investing in densely populated, affluent communities where retail demand exceeds supply.
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